And the New York Times, despite its $1.1 billion in debt, says it at least has enough money to survive 2009.

Here at home Torstar, owner of Canada's biggest newspaper, announced an administrative shakeup on Thursday. The company had a net loss of $180 million last year. Its net debt grew to $627 million. Torstar stock closed Thursday down 34 cents to $6.05.

Meanwhile, The Star reported that CBC President Hubert Lacroix is ready to sell some assets to survive the sudden fall in advertising revenues.

Unimpressed, The Secrets of Vancouver, a right-wing blog, says: "Harper should tell [the CBC] to go to hell...Let's have a referendum on the CBC - decide if they are even relevant anymore. CTV and Global seem to be getting all the viewers."